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Samsung forecasts sales recovery for smartphones after earnings miss

Samsung is predicting an upturn in smartphone sales for Q3 2014 after several quarters of declines

| Business, Financial & Legal News | Posted: Jul 8, 2014 3:00 pm

Things were looking bleak for Samsung not long ago when it announced a profit for Q2 that fell short of what analysts were expecting. The reason for that shortfall was competition from Chinese smartphone makers and gains for the Korean won. Despite the weak profit that Samsung reported, the company is now forecasting an improvement in smartphone sales.

 

TweakTown image news/3/8/38927_6_samsung_forecasts_sales_recovery_for_smartphones_after_earnings_miss.jpg

 

Samsung has said that new products and demand for 4G devices will boost its sales in Q3. Samsung is counting on new products from competitors like Apple to increase the demand for devices overall. The company is also hoping that demand for 4G phones in China will increase in Q3.

 

In Q2, Samsung saw sales of its smartphones slide to 78 million units compared to 87.5 million units in Q1 marking the third straight quarter with sales decline. Several analysts agree with Samsung's expectation for improved sales.

NEWS SOURCES:Bloomberg.com

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